Japan to give minors $882 in cash, vouchers to boost economy

Tokyo: Japan’s ruling party and its coalition partner have agreed to offer a combined 100,000 Japanese yen ($882) worth of vouchers and cash payouts to children aged 18 or younger as part of the government’s stimulus package, Jiji news agency said.

In a meeting of executives, the Liberal Democratic Party (LDP) and coalition partner Komeito also agreed to offer 100,000 yen in cash payouts to low-income households hit hard by the coronavirus pandemic, the Jiji news agency reported on Tuesday.

Japanese Prime Minister Fumio Kishida told party executives earlier on Tuesday that he wants to compile the stimulus package on November 19 and an extra budget to fund the spending by the end of this month, according to the Kyodo news agency.

The Komeito called for blanket 100,000 yen cash payouts to children aged 18 or younger as part of the package, while LDP officials wanted to set an income cap.

As a compromise, the two parties agreed to offer half the sum in the form of a voucher. The other half will be paid in cash, though the two parties remain undecided on whether to set an annual income limit for those who are eligible, Jiji said.